First International Forum on Law and Finance takes place in Shanghai

A total of 180 officials, judges and experts in the field of investor protection from around the world gathered in Shanghai for the inaugural International Forum on Law and Finance on Saturday.

Themed "Financial Adjudication and Investor Protection In A Better Law-Based Business Environment", the forum was jointly hosted by the Shanghai Financial Court and the China Academy of Financial Research affiliated to Shanghai Jiao Tong University.

Liu Xinhua, vice chairman of the Financial and Economic Affairs Committee of the National People's Congress, said that a key challenge related to this field is the establishment of a system for the protection of the legitimate rights and interests of investors with the rule of law as the core.

It is important to innovate litigation, relief and compensation claim mechanisms for the protection of the legitimate rights and interests of investors, he said.

Shanghai views enhancing the rule of law in the financial industry as an important part of the city's constant efforts to optimize its business environment, according to Liu Xiaoyun, president of the Shanghai Higher People's Court.

"The Shanghai courts will take into account the insights of experts and scholars, promote the combination of theory and practice in financial trials, and strive to provide first-class judicial services and guarantees for the city to build a world-class business environment," he said.

Zhao Hong, president of the Shanghai Financial Court, said that the rapid pace of internationalization of Shanghai's financial market means it is imperative that there is a law system governing the financial area.

"The court will draw on useful experience at home and abroad to promote the innovative development of judicial practice in relevant fields, aiming to provide a more solid financial judicial guarantee for Shanghai's construction of an international financial center and the city's economic and social developments," she said.